Pew: 92% of Americans give economy Negative Rating

Pew Research Center for the People & the Press

Americans are united in the belief that the economy is in bad shape (92% give it a negative rating), and for many the repercussions are hitting close to home. Fully 70% of Americans say they have faced one or more job or financial-related problems in the past year, up from 59% in February 2009. Jobs have become difficult to find in local communities for 85% of Americans. A majority now says that someone in their household has been without a job or looking for work (54%); just 39% said this in February 2009. Only a quarter reports receiving a pay raise or a better job in the past year (24%), while almost an equal number say they have been laid off or lost a job (21%). Read more

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Consumer sentiment drops in April

MarketWatch
As economic worries persist, U.S. consumer sentiment dropped in early April, according to media reports on Friday of the Reuters/University of Michigan index.

The consumer sentiment index fell to 69.5 in April from 73.6 in March. Economists surveyed by MarketWatch had been expecting the sentiment index to hit 75 in April. The index hit a 28-year low of 55.3 in November 2008.

While the economy has been picking up, consumers remain worried about jobs and their personal finances.

Elsewhere Friday, fresh data from the Commerce Department showed that new construction of U.S. housing units revealed an upward trend in place since the beginning of the year. Starts rose 1.6% in March to a seasonally adjusted 626,000 annualized units, stronger than the 610,000 pace expected by economists surveyed by MarketWatch. Read more about housing starts.

According to a Reuters report, the reading on current economic conditions fell to 80.7 in April from 82.4 in March. The consumer expectations reading fell to 62.3 from 67.9, according to Reuters. Also according to Reuters, the one-year inflation expectation index rose to 2.9% from 2.7%.